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> I suspect NAB got Pin because they're the only bank allowing you to deposit multiple currencies in a single account. Everyone else requires you to open separa
by elithrar 13y ago
> I suspect NAB got Pin because they're the only bank allowing you to deposit multiple currencies in a single account. Everyone else requires you to open separate accounts for separate currencies.
NAB also has Braintree, likely for similar reasons.
- zhoutong 13y agoFrom what I know, NAB's Foreign Currency account is still single currency. You need 10 accounts if you need 10 currencies, with $40/month fee if balance is lower than $20k. The benefit is with their Merchant Account, which can offer settlement to foreign currency accounts with a single interface. I've never seen any other major bank in Australia publishing any foreign currency offering for credit card processing. Braintree is not a small player, so it's highly likely that they are able to get customized proposals from different banks and the choice of NAB should be a lot more than just the existence of a published product.
- jacques_chester 13y agoSounds like I misunderstood the structure. Thanks.